AstraZeneca and Moderna Therapeutics sign deal to develop RNA therapeutics

FTSE 100-listed biopharmaceutical business AstraZeneca has signed an exclusive agreement with Moderna Therapeutics to discover, develop and commercialise messenger RNA therapeutics for the treatment of cardiovascular, metabolic and renal diseases.

FTSE 100-listed biopharmaceutical business AstraZeneca has signed an exclusive agreement with Moderna Therapeutics to discover, develop and commercialise messenger RNA therapeutics for the treatment of cardiovascular, metabolic and renal diseases.

Under the terms of the agreement, AstraZeneca will make an upfront payment of $240m and it will have exclusive access to select any target of its choice in cardiometabolic diseases, as well as selected targets in oncology, over a period of up to five years for subsequent development of messenger RNA. In addition, Moderna is entitled to an additional $180m for the achievement of three technical milestones.

Through the agreement, AstraZeneca has the option to select up to 40 drug products for clinical development and Moderna will be entitled to development and commercial milestone payments as well as royalties on drug sales ranging from high single digits to low double digits for each product.

Pascal Soriot, Chief Executive Officer of AstraZeneca, said: "Today's agreement signals an exciting move for AstraZeneca and our focus on innovation. Together with Moderna, we are pushing the boundaries of science in the pioneering field of messenger RNA therapeutics."

Stephane Bancel, President and founding Chief Executive Officer of Moderna Therapeutics, said: "This multi-year strategic agreement with AstraZeneca is a very exciting and special moment for the Moderna team. The company's strategy is to develop, manufacture, and commercialize innovative drugs initially in rare diseases and oncology as well as to partner other therapeutic areas with best-in-class companies."

Messenger RNA therapeutics are a new treatment approach that enables the body to produce therapeutic protein in vivo, opening up new treatment options for a range of diseases.

AstraZeneca's share price was up 2.02% to 3,101.50p at 11:37 on Thursday.

MF

Recommended

Avoid easyJet shares – there are better airlines to invest in
Share tips

Avoid easyJet shares – there are better airlines to invest in

EasyJet used to be one of Europe’s most impressive airlines. But now it is facing challenges on all fronts and losing out to the competition. Rupert …
16 May 2022
Britain’s ten most-hated shares – w/e 13 May
Stocks and shares

Britain’s ten most-hated shares – w/e 13 May

Rupert Hargreaves looks at Britain's ten-most hated shares, and what short-sellers are looking right now.
16 May 2022
Anna Macdonald and Mikhail Zverev: Investing in innovative new frontiers
Investment strategy

Anna Macdonald and Mikhail Zverev: Investing in innovative new frontiers

Merryn talks to Anna Macdonald and Mikhail Zverev of Amati about investing in growth-focused innovation in the teeth of a tech-stock selloff, and the …
12 May 2022
BT is making progress and the dividend is back – but is it time to buy yet?
Share tips

BT is making progress and the dividend is back – but is it time to buy yet?

Investors in telecoms giant BT have seen dismal returns over the last 15 years. But there are signs that it is starting to turn things around, says Ru…
12 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
High inflation will fade – here’s why
Inflation

High inflation will fade – here’s why

Many people expect high inflation to persist for a long time. But that might not be true, says Max King. Inflation may fall faster than expected – and…
13 May 2022
What the Ukraine crisis might mean for ESG investing
Advertisement Feature

What the Ukraine crisis might mean for ESG investing

The Ukraine crisis has brought many of the issues around ESG investing into sharper focus. Where does the sector go from here?
3 May 2022